Please do not give solution in image format thanku Variance Computations and ExplanationsTarptent manufactures camping tents from a lightweight synthetic fabric. Assume the company's two-person tent has a standardmaterials cost of $60, consisting of 4 yards of fabric at $15 per yard. The standards call for 1.5 hours of assembly at $20 per hour. Thefollowing data were recorded for October, the first month of operations:Fabric purchasedFabric used in production of 1,200 tents 4,850 yardsDirect labor usedLabor rate variance(a) Compute all standard cost variances for materials and labor.Materials price variance (usage basis) Answer AnswerFUAnswer AnswerFUMaterials price variance (purchase basis)Materials quantity varianceLabor efficiency varianceDirect materialsDirect labor(b) Determine the standard variable cost of 1,200 tents produced, separated into direct materials and labor.Answer6,500 yards x $ 14.50 per yardAnswer1,850 hours x $19.50 per hourTotal standard variable costAnswerPlease answer all parts of the question.Answer AnswerFUAnswer AnswerFUAnswer AnswerFU

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Description: Please do not give solution in image format thanku Variance Computations and ExplanationsTarptent manufactures camping tents from a lightweight synthetic fabric. Assume the company's two-person tent has a standardmaterials cost of $60, consisting of

Variance analysis is the process under which the difference between the actual cost and the budgeted…

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Variance Computations and Explanations Tarptent manufactures camping tents from a lightweight synthetic fabric. Assume the company's two-person tent has a standard materials cost of $60, consisting of 4 yards of fabric at $15 per yard. The standards call for 1.5 hours of assembly at $20 per hour. The following data were recorded for October, the first month of operations: Fabric purchased 6,500 yards x $ 14.50 per yard Fabric used in production of 1,200 tents 4,850 yards Direct labor used (a) Compute all standard cost variances for materials and labor. Materials price variance (usage basis). AnswerFU Materials price variance (purchase basis) Answer AnswerFU Materials quantity variance Answer AnswerFU Labor rate variance Answer AnswerFU Labor efficiency variance Direct materials Direct labor (b) Determine the standard variable cost of 1,200 tents produced, separated into direct materials and labor. Answer Answer 1,850 hours x $19.50 per hour Total standard variable cost Please answer all parts of the question. Answer Answer Answer AnswerFU

Variance Computations and Explanations Tarptent manufactures camping tents from a lightweight synthetic fabric. Assume the company's two-person tent has a standard materials cost of $60, consisting of 4 yards of fabric at $15 per yard. The standards call for 1.5 hours of assembly at $20 per hour. The following data were recorded for October, the first month of operations: Fabric purchased 6,500 yards x $ 14.50 per yard Fabric used in production of 1,200 tents 4,850 yards Direct labor used (a) Compute all standard cost variances for materials and labor. Materials price variance (usage basis). AnswerFU Materials price variance (purchase basis) Answer AnswerFU Materials quantity variance Answer AnswerFU Labor rate variance Answer AnswerFU Labor efficiency variance Direct materials Direct labor (b) Determine the standard variable cost of 1,200 tents produced, separated into direct materials and labor. Answer Answer 1,850 hours x $19.50 per hour Total standard variable cost Please answer all parts of the question. Answer Answer Answer AnswerFU

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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